Submitted By
Steve Drazner, CFO
Reviewed By
AMZ
Agenda Item Title
Title
Discussion Regarding the Survey Results for the Expenditure of American Rescue Act Funds
End
Overview
Overview
At the November 15, 2021 Village Board Meeting, staff provided a report of the initial feedback from the web survey regarding the ARPA funds. The Village Board asked that this discussion continue at the Special Meeting on November 22,2021 to confirm next steps.
Body
Staff Recommendation
Staff recommends a special meeting in the 1st Quarter of 2022 to discuss. As a next step staff will explore each comment and try to determine current community need or impact, identify any duplicated existing services, or following up with agencies who needed more time to submit a comment. Staff will only bring forward immediate needs, if any, at the December 6th regular meeting.
Fiscal Impact
N/A.
Background
The Village will receive an allocation of $38,984,402 under the America Rescue Plan Act which may be used under the following broad categories:
1) Replace "lost" revenues
2) Support public health expenditures for the ongoing response to COVID-19
3) Addressing negative economic impacts caused by the public health emergency
4) Health Equity
Within these broad categories are one or more subcategories of eligible expenses. For example, providing grants to businesses or non-profit organizations having financial challenges due to the pandemic would be considered an eligible expense under the "negative economic impact" category. Similarly, offering financial assistance with homelessness and mental health recovery would fall under the "support public health" category.
Thus far, the Village received half of its allocation or $19,492,201 under the ARPA program. Approximately $8.6 million of this amount was already used to reimburse the Village for lost revenues for fiscal year 2020 as calculated using the Department of Treasury formula. Additional lost revenues are expected for 2021,...
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